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"Indian state refiners will cut oil imports from Iran in 2017/18 by a fifth, as New Delhi takes a more assertive stance over an impasse on a giant gas field that it wants awarded to an Indian consortium, sources familiar with the matter said. India, Iran's biggest oil buyer after China, was among a handful of countries that continued to deal with the Persian Gulf nation despite Western sanctions over Tehran's nuclear programme. However, previously close ties have been strained since the lifting of some sanctions last year as Iran adopts a bolder approach in trying to get the best deal for its oil and gas."

"A Qatar Insurance Co. SAQ unit has signed a lease for a new headquarters close to the Lloyd’s of London insurance market that is more than twice the size of the company’s existing premises.

Antares Underwriting Services Ltd., acquired by QIC in 2014, agreed with Aldgate Developments and the City of London Corporation to lease 21 Lime Street, an office development that will be completed next month, according to a joint statement issued by the building’s broker CBRE Group Inc. The company will occupy the entire 32,000 square feet (3,000 square meters) of offices in the building on a 15-year lease.

Acquiring a new headquarters underlines the company’s commitment to the Lloyd’s of London insurance market and reflects the company’s growth under QIC, Antares managing director Stephen Redmond said in the statement. QIC is the largest insurance company in the Middle East and North Africa by market value.

"India is inching closer to establishing its presence near the Persian Gulf with billionaires Gautam Adani and the Essar group’s Ruia brothers flagging interest in managing terminals at Iran’s Chabahar port, which India first agreed to develop 14 years ago, according to people with knowledge of the matter. Adani Ports & Special Economic Zone Ltd., operator of India’s largest port, and Essar Ports Ltd. are among companies that have expressed an interest in managing and operating two terminals at Chabahar, said the people, asking not to be identified discussing confidential matters. India Ports Global Ltd., the company mandated to drive India’s investments in overseas ports, on March 17 invited firms to express interest if they want to be considered for a strategic partnership."

"Oil analysts have grown more unsure that OPEC's supply cut will be enough to offset the increase in U.S. production and do not believe prices will reach $60 a barrel until early next year, according to a Reuters poll on Friday.

Brent crude is expected to average $57.25 per barrel in 2017, slightly lower than last month's forecast of $57.52, the poll of 32 economists and analysts showed.

Forecasts for Brent in 2017 range from a high of $73 by Raymond James to a low of $51 by Commerzbank."

"Saudi Arabia has appointed banks to conduct preparatory work on the initial public offering of Saudi Aramco, the world’s largest oil producer, which is aiming to become the most valuable listed company. The state-controlled company has hired JPMorgan, Morgan Stanley and HSBC as financial advisers for the listing, said four people briefed on the matter. This initial role suggests these banks will ultimately be the lead underwriters for the IPO, working as global coordinators, added two of these people. Saudi Aramco did not respond to a request for comment."